My comments :
It's easy for beginners to be attracted to the hype of multi-baggers (or someone else's returns), skip the required research and get into lower quality companies but cheaper looking stocks.
The goal should be to build a process where you develop a circle of competence, identify/buy quality Co.'s at decent prices, have a clear thesis & know what to monitor, ignoring the market noise (as long as thesis holds/improves), practice patience and long-term holding.
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I love this new format even more as it lists the stocks mentioned (if any in detail) in the letters.
Always good to read well researched/written long or short commentary from some smart investors on our Portfolio/Watchlist companies.
My fav pts from some new ones I read recently in the thread below.
✔️Guardian Funds on investing in
-Thriving Digitally native businesses
-Founders that focus on culture, innovation, long-term thinking
-having an owner mindset as an investor
Anyone who signs stuff - "I can't wait to get back to pen/paper signing and waste a bunch of time going around places signing stuff."
2⃣ $TWLO
Developers : I hate using easy-to-use Communication APIs in all my channels and would love to re-create the wheel myself by spending a lot of time/effort.
We went thru US and Eurozone recession fears, three US Presidential elections, Brexit, Terrorism events, many Taper tantrums, a deadly Pandemic and many more major events/headlines and here we are.
I take screenshots like these during Bear Markets and extreme volatility periods (took many during GFC, Fall 2011, Feb 2016, 4Q-2018, March 2020...) as a reminder that whatever is the news of the day will blow over and the real issues (GFC/COVID...) will get resolved with time.
"The Five Rules of Successful Stock Investing" by Pat Dorsey is one of the best books for individual investors (Top 5 in my opinion). Excellent summary of that book. h/t @suru27 👏
I love my Tech names for a majority of my Portfolio (BigTech, Small Tech, HW, SaaS, E-Commerce, FinTech, Consumer Tech), but there's plenty of great Co's outside of these.
Few of the other Sectors & my fav names in there.⬇️
✔️US based
✔️Tech (in a traditional sense) is not the main product of these Co.'s although they leverage it.
✔️Many of these have a mix of some of these below characteristics
✔️Great products/services
✔️Long-term oriented Mgmt teams
✔️Customer obsession
✔️Differentiated Biz Model
✔️Durable demand
✔️Innovative culture
✔️Lean operations
✔️Good Financial governance
✔️Very moaty or critical in their value chain
✔️Mkt (S&P) beaters over the 5/10 yr periods
"40 invaluable investing lessons" by Tony Deden (Chairman of Edelweiss Holdings) is such a great read for long-term investors. Worth re-reading once an year.